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Fitness bands are wristbands that are used to monitor and track fitness-related metrics. They help in tracking sleep, calories consumed/burnt, distance walked, monitoring heart rate, and other activities. In terms of revenue, the global market for fitness bands is envisaged to be influenced by the growing number of fitness conscious people across the globe and is expected to post a profound CAGR of more than 31% by 2019.
Technavio’s market research analyst has estimated eminent factors, such as the high cost of healthcare systems, to drive market growth during the forecast period. The high hospital and healthcare fees across the globe force consumers to purchase health and fitness tracking devices. These devices help consumers to measure their calorie consumption, blood pressure, and heart rate at the leisure of their homes without the need to visit a doctor for a general check-up. The ability of these devices to monitor a person’s general well-being is expected to augment its adoption during the forecast period.
In this market research report, analysts estimate the APAC region to be the fastest growing segment during the forecast period. The prospects for growth in this region is driven by the availability of low-price range fitness bands, which results in its impressive market share of more than 33% by 2019.
This market research offers an analysis of each of the following segments and discusses its impact on the overall market growth -
This market is highly competitive and is expected to grow rapidly during the forecast period. Since this market has low entry barriers, the entry of new vendors is expected to intensify the competition between them. Companies that use innovative marketing strategies to sell their products are predicted to gain maximum market prominence during the forecast period.
Key vendors in this market are -
Other prominent vendors analyzed in this market study are Amiigo, Atlas Wearables, Fitbug, Flyfit, Goqii, Healbe, iFit, Jaybird, Misfit, Movable, Mushroom Labs, Nautilus, Pivotal, Polar, Razer, Runtastic, Skechers, Striiv, and YU Televentures.
Upcoming trends such as the introduction of cross-over products are expected to gain popularity as they help to diminish the gap between a wrist-worn fitness device and a smartwatch. The introduction of products that primarily acts as a fitness device but also provides the basic functionalities of a smartwatch is expected to bolster market growth during the forecast period. For instance, the launch of products like Surge by Fitbit is expected to impel market growth as it is a fitness device that comes with calling and texting functionalities.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the fitness bands market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Technavio also offers customization on reports based on specific client requirement.
PART 01:Executive summary
PART 02:Scope of the report
PART 03:Market research methodology
PART 04:Introduction
PART 05:Market landscape
PART 06:Geographical segmentation
PART 07:Market drivers
PART 08:Impact of drivers
PART 09:Market challenges
PART 10:Impact of drivers and challenges
PART 11:Market trends
PART 12:Vendor landscape
PART 13:Key vendor analysis
PART 14:Appendix
PART 15:Explore Technavio
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